BearingPoint to Divest Key Ops to Big Four Firms

Consulting giant BearingPoint, which filed for Chapter 11 last month, agreed to divest several of its units to Big Four firms Deloitte and PricewaterhouseCoopers.

Deloitte agreed to acquire the majority of the company’s North American public services business for $350 million, while PwC is in line to buy BearingPoint’s commercial services arm for $25 million. PwC was also reportedly engaged in discussions to buy the consultancy’s Japanese operations.

The deals are subject to approval by a bankruptcy court.

BearingPoint is also looking to sell its units in Europe, Latin America and in the Asia-Pacific region. BearingPoint, the former KPMG Consulting, was spun off from its accounting and auditing parent in 1999.